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Is it still worth investing in Spanish property post-Brexit?

Thursday 1st June 2017

Written by Roy Weatherby, The Overseas Investor

Brexit has been at the front of news for some time and how the UK will respond as a result of it is unknown but what will it mean for other European countries?
 
Over the last two years, the recovery seen in Spain has been nothing short of remarkable with the property market now seeing the rewards of this recovery. Prices began rising around 18 months ago and this was when the recovery in the property market began. Whether Spain will ever get back to where it once stood is not known but it is certainly doing all it can to get as close to it.
 
As property investors look at alternative ways in which they can enhance their portfolio, could Spain be the answer?
 
Are property prices still increasing?
 
It’s a known fact that the price of property took longer to increase following the crash in the economy. Prices in the UK recovered a lot faster but things are looking promising in Spain. In some areas house prices have risen by 5% but they are a long way off from what they were before the crisis took a hold and that is great news for British buyers.
 
Are the levels of demand for property high across the whole of the country?
 
Sales involving overseas buyers are on the rise and that shows that buyers and investors are still considering Spain to be a good place to purchase. The Costa del Sol and Costa Blanca are still proving to be areas of interest as they have been for many decades even through the financial crisis did cause problems for these areas.
 
Despite this dip in prices, the economy is still going from strength to strength while the property market is looking positive as a whole.
 
Will new homes enter the market?
 
Construction is underway again in Spain and huge amounts of money are being invested into the country in an attempt to kick-start the economy while attracting overseas buyers to the market.  It is now common to see cranes dotted along the landscape in the large towns and cities in the Costa del Sol and Costa Calida as well as many new developments. This is positive and gives buyers the confidence to purchase Spanish property.
 
Which areas are the best for investment?
 
Research and due diligence is vital before making any kind of decision to purchase property in Spain. The location is vital and there are many different areas that have delivered great investment opportunities in recent years. Investors have always shown an interest in the likes of Marbella and Alicante thanks to the stunning beaches and year-round sunshine and that means people are looking for property throughout the year.
 
However, for those who may have an interest in the investing in something different might consider other areas that are growing in popularity such as Mijas which is located in the Costa del Sol. Buyers have been active in the market here due to the affordable prices and growth in demand and rental prices.
 
For more information or to browse a range of properties for sale in Spain, please contact Hopwood House.
 


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Editorial Contact Details - Conor Shilling
conor.shilling@angelsmedia.co.uk
0845 672 6000
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